Bitcoin surges past $112K this week, reaching a new record high and igniting optimism across global markets. The bullish momentum follows weeks of consolidation, which left many traders cautious about Bitcoin’s next move.
On Wednesday, Bitcoin reached $112,000 for the first time. Shortly after, Milk Road co-founder Kyle Reidhead shared his prediction: “See you at $150K.” His comment referred to a technical pattern he believes supports further growth.
Analysts had previously warned that Bitcoin needed to break out soon. Economist Timothy Peterson suggested that failure to reach new highs now could delay growth until October. Fortunately for bulls, the latest price movement came just in time.
Sentiment in the crypto market has turned notably positive. The Crypto Fear & Greed Index rose to 71 out of 100, signaling strong investor confidence. At the same time, the Altcoin Season Index reported a “Bitcoin Season” score of just 26, meaning Bitcoin remains dominant over other digital assets.
From a technical view, Bitcoin broke its recent downtrend. Crypto analyst Matthew Hyland confirmed that Bitcoin formed a new daily higher high. He added that bulls are now clearly in control of the market.
Bitcoin surges past $112K while institutional buying leads the rally. eToro analyst Josh Gilbert noted this is the first full bull market where institutions are playing a major role. He attributed the rally to strong ETF inflows and favorable macroeconomic conditions.
Farside data shows over $1 billion flowed into U.S.-based spot Bitcoin ETFs in July alone. That level of institutional interest supports Bitcoin’s current strength and long-term outlook.
Coinstash co-founder Mena Theodorou echoed this view. He emphasized that institutions, not retail investors, are driving momentum. Even with rising global tensions, Bitcoin remains steady and resilient.
Overall, Bitcoin surges past $112K, and excitement is building across the financial world. With technical patterns aligned and institutional interest climbing, many now believe $150K is within reach.
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